Cut government

There is only one truly rational response to a shortfall in tax collections: reduce the size of government. Governor Henry actually proposes something along those lines in response to projected budget cuts of 35% - he suggests that a few of the state's 180 agencies be combined - but it's included with a hodge-podge of ideas that also include the inevitable proposals to raise taxes:

Gov. Brad Henry calls out plan’s critics

Governor Henry and the Oklahoma Legislature need to bite the bullet and get the government out of the economy's way.